A recent study of people over 18 by Piplsay has revealed, “a majority of American believe cryptocurrency is a safe investment. Furthermore, 25% already own crypto with another 27% saying they plan to invest this year,” according to Coindesk.
Piplsay is a global consumer research platform, and significantly, its study’s findings are broadly in line with other surveys.
Grayscale research in October 2020 showed that 55% of US investors had an interest in buying cryptocurrencies, while another study by Bitwise indicated that 24% of financial advisers had already bought Bitcoin.
2020 was an amazing year for the leading cryptocurrency, and it can claim to be one of the top-performing assets. Its performance has attracted a new swathe of institutional buyers, such as Tesla, which reportedly made a $1bn profit from its purchase of $1.5bn Bitcoin just two weeks ago. However, some argue that retail interest in crypto has not been as strong as that of the institutions, going by the number of Google searches for Bitcoin, which are far lower than in the famous bull run of 2017.
Piplsay research also showed that the people in the study thought that the stock market and cryptocurrencies are equally risky investments: 27% were concerned about hacking and fraud; 22% about lack of regulations and 20% about volatility. Furthermore, some 30% of those surveyed said they didn’t understand crypto at all and 13% had never even heard of them.